Salazar Intercepts 6.35 Meters of 4.53 g/t Gold, 58.05 g/t Silver, 0.75% Copper and 5.54% Zinc Northeast of the El Domo Deposit
June 07 2012 - 3:00AM
Marketwired Canada
Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) is pleased to report
results for an additional seven holes (958.10 metres) from the recently
completed Phase IV diamond drill program on the Company's 100-per-cent-owned
(30,327 ha) Curipamba volcanogenic massive sulphide (VMS) project in Ecuador.
These holes represent new exploratory drilling and were not included in the new
El Domo resource estimate which was released on January 12, 2012. The 7 holes
were drilled to test for mineralization west and north-east of the existing
resource blocks (Figure 1).
Highlights Include:
-- CURI-187 intersected 6.35 metres averaging 4.53 g/t gold, 58.05 g/t
silver, 0.75% copper and 5.54% zinc
-- CURI-192 intersected 5.20 metres averaging 0.87 g/t gold, 26.96 g/t
silver, 0.2% copper and 1.45% zinc
Holes CURI-187 and CURI-192 were drilled approximately 100 metres and 200 metres
east of the strong mineralization in hole CURI-185 (3.18 metres averaging 3.04
g/t gold, 57.48 g/t silver and 2.14% copper; previously released on May 14,
2012). Both CURI-187 and CURI-192 intersected strong precious metals
mineralization (Table 1) which indicates a significant extension to the
mineralization, beneath the andesite sill, in this area.
The Phase IV drill program comprised 51 holes (10,245.92 meters) of new
exploratory drilling of which none of the holes were included in the updated
resource estimate released by Salazar on January 12, 2012.
To date results for 37 holes of the Phase IV drill program have been reported
and we anticipate to have the remaining holes available shortly.
Fredy Salazar, President and CEO, commented: "The intersections in holes
CURI-185, CURI-187 and CURI-192, drilled over a distance of approximately 200
metres, indicate the presence of highly anomalous areas with significant
mineralization in a new area to the northeast of the current resource. This new
area is open to the south, north, and east, is close to the El Domo resource
blocks, and will be a target of future exploration."
Table 1: Significant Intersections
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FROM TO WIDTH Au Ag Cu Pb Zn
HOLE ID (m) (m) (m) (g/t) (g/t) (%) (%) (%)
---------------------------------------------------------------------------
CURI-186 No significant mineralization encountered in this hole
---------------------------------------------------------------------------
CURI-187 89.35 95.70 6.35 4.53 58.05 0.75 0.46 5.54
---------------------------------------------------------------------------
including 89.35 91.43 2.08 10.74 94.24 0.68 0.48 7.81
---------------------------------------------------------------------------
CURI-188 No significant mineralization encountered in this hole
---------------------------------------------------------------------------
CURI-189 No significant mineralization encountered in this hole
---------------------------------------------------------------------------
CURI-190 No significant mineralization encountered in this hole
---------------------------------------------------------------------------
CURI-191 No significant mineralization encountered in this hole
---------------------------------------------------------------------------
CURI-192 60.69 65.89 5.20 0.87 26.96 0.20 0.11 1.45
---------------------------------------------------------------------------
including 60.69 64.77 4.08 1.05 28.68 0.21 0.12 1.61
---------------------------------------------------------------------------
Widths represent down hole core lengths.
To view "Figure 1: Map of El Domo Pierce Points with Resource Outlines"
accompanying this press release, please click on the following link:
http://media3.marketwire.com/docs/srl67i.pdf
Table 2: Drill Hole Specifications
---------------------------------------------------------------------------
Az Dip EOH
Hole ID Easting Northing Elev degrees degrees (m)
---------------------------------------------------------------------------
CURI-186 694936 9855400 911.69 90 -70 167.95
---------------------------------------------------------------------------
CURI-187 695353 9855650 972.07 90 -65 173.80
---------------------------------------------------------------------------
CURI-188 694932 9855400 911.76 270 -60 95.95
---------------------------------------------------------------------------
CURI-189 694977 9855350 908.05 270 -60 137.80
---------------------------------------------------------------------------
CURI-190 695041 9855550 937.51 270 -75 171.00
---------------------------------------------------------------------------
CURI-191 695051 9855650 924.94 270 -45 82.65
---------------------------------------------------------------------------
CURI-192 695478 9855650 963.10 270 -75 128.95
---------------------------------------------------------------------------
TOTAL 958.10
-----------------
Drill core samples were analyzed by ALS Chemex Labs Ltd. and IBS Inspectorate,
ISO 9001:2000 certified laboratories, in Ecuador. Salazar maintains a QA/QC
program whereby standard samples and blanks are inserted into each batch of
samples to ensure quality control.
Kieran Downes, P.Geo., a qualified person as defined by National Instrument
43-101, has reviewed and verified the technical information provided in this
release.
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & CEO
Salazar Resources Limited
About Salazar Resources: Salazar Resources Ltd. is a publicly-listed (TSX
VENTURE:SRL)(FRANKFURT:CCG) mineral resource company engaged in the exploration
and development of new highly prospective areas in Ecuador. Led by a senior
Ecuadorian management team and most notably by its namesake Fredy Salazar, this
team has been instrumental in other major discoveries throughout Ecuador. Being
based in Ecuador", thus have thorough knowledge of local human and environmental
issues, gives the company a strategic advantage, enabling it to complete
exploration at a rapid pace. With an excellent property portfolio (3 projects -
42,900 hectares), good geopolitical positioning and a number of strategic
corporate and financial partnerships, Salazar has positioned itself to be a
strategic player in Ecuador and throughout South America.
This press release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the company's disclosure documents on the SEDAR website at
www.sedar.com. The company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.
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